{"data":{"id":"us-or/ors-86a.109","jurisdiction":"us-or","citation":"ORS 86A.109","heading":"Expiration of initial license; renewal; duration of renewed license; change in personnel; rules.","body":"(1) An initial license expires one year after the date of issuance unless the Director of the Department of Consumer and Business Services establishes a different expiration date to coordinate with the Nationwide Mortgage Licensing System and Registry.\n      (2) The director by rule shall establish procedures to renew a license. The rule shall specify the duration of a renewed license.\n      (3) If there is a change in the partners, directors, officers or persons that occupy similar positions or perform similar functions, or persons that directly or indirectly control a mortgage banker or mortgage broker, written notification of the change must be filed promptly with the director. No fee is required for the notification.","path":["02 - Business Organizations, Commercial Code","9. Mortgages and Liens","Chapter 86A — Mortgage Lending"],"source_url":"https://www.oregonlegislature.gov/bills_laws/ors/ors086A.html","current_through":"2025 Edition","vintage":"","retrieved_at":"2026-09-03T23:50:11Z","sha256":"d9e2dfe94dcdc6045b2b08c8a280a79e108edc6415de89331b9de6568a40d1d1","source_id":"us-or","stale":false,"prev":"us-or/ors-86a.106","next":"us-or/ors-86a.112"},"notice":"GroundRules: Original legal text. Not legal advice."}